An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called:
a. perfect elasticity.
b. imperfect elasticity.
c. strong elasticity.
d. weak elasticity.
a. perfect elasticity.
An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called perfect elasticity.
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Karl Marx was critical of markets on the grounds that they are not efficient
a. True b. False Indicate whether the statement is true or false
Which of the following is not associated with the monopoly market structure?
A. many sellers B. a single seller C. a unique product D. impossible entry into the market
A firm's employment of labor outside the country in which the firm is located is called
A) featherbedding. B) a lockout. C) outsourcing. D) dumping.
What is the national income identity for an open economy?
What will be an ideal response?